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Guatemala announces bids to be invited for six blocks of oil exploration

Friday, September 24, 2010

The government of Guatemala announced that it will invite bids for six oil exploration blocks in an effort to increase the nation’s 12,000 barrels of crude a day to 80,000 in the medium term.

The areas are located in the departments of Petén, Huehuetenango, Quiché and Alta Verapaz. Reserves are estimated at 3 billion barrels of crude.

Each area is expected to generate investment of $25 million and $80 million.

Original source (in Spanish): El Periódico